Incyte Corporation Has Another Very Positive Options Trading Session

October 10, 2016October 10, 2016Ellis Scott

In today’s session Incyte Corporation (INCY) registered an unusually high (1,033) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious INCY increase. With 1,033 contracts traded and 3864 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: INCY161021C00095000 closed last at: $4 or 11.1% down. About 145,603 shares traded hands. Incyte Corporation (NASDAQ:INCY) has risen 33.48% since March 7, 2016 and is uptrending. It has outperformed by 25.89% the S&P500.

Analysts await Incyte Corporation (NASDAQ:INCY) to report earnings on November, 1. They expect $-0.03 earnings per share, up 86.36% or $0.19 from last year’s $-0.22 per share. After $0.18 actual earnings per share reported by Incyte Corporation for the previous quarter, Wall Street now forecasts -116.67% negative EPS growth.

Incyte Corporation (NASDAQ:INCY) Ratings Coverage

Out of 19 analysts covering Incyte (NASDAQ:INCY), 17 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 89% are positive. $146 is the highest target while $85 is the lowest. The $110.83 average target is 12.93% above today’s ($98.14) stock price. Incyte has been the topic of 37 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Brean Capital maintained Incyte Corporation (NASDAQ:INCY) on Wednesday, September 2 with “Buy” rating. UBS maintained the shares of INCY in a report on Wednesday, November 4 with “Buy” rating. Barclays Capital initiated Incyte Corporation (NASDAQ:INCY) rating on Thursday, August 13. Barclays Capital has “Overweight” rating and $125 price target. The firm has “Overweight” rating by Piper Jaffray given on Tuesday, August 18. The stock of Incyte Corporation (NASDAQ:INCY) earned “Outperform” rating by BMO Capital Markets on Thursday, April 7. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, July 13. Nomura maintained Incyte Corporation (NASDAQ:INCY) rating on Tuesday, October 6. Nomura has “Buy” rating and $146 price target. Vetr upgraded the shares of INCY in a report on Monday, September 7 to “Hold” rating. Barclays Capital maintained the stock with “Overweight” rating in Friday, February 12 report. The stock has “Buy” rating given by Argus Research on Tuesday, August 18.

According to Zacks Investment Research, “Incyte Corp is a drug discovery company that is using its expertise in genomics, medicinal chemistry and molecular, cellular and in vivo biology to discover and develop novel therapeutics. The company has three fully-staffed drug discovery programs underway focused primarily on the identification of new small molecule drugs for cancer and inflammation. Incyte also has strategic alliances with Lexicon Genetics and Medarex focused on the discovery and development of protein therapeutics or antibodies to treat inflammatory diseases and cancer.”

Insitutional Activity: The institutional sentiment increased to 1.19 in Q2 2016. Its up 0.26, from 0.93 in 2016Q1. The ratio is positive, as 32 funds sold all Incyte Corporation shares owned while 116 reduced positions. 45 funds bought stakes while 131 increased positions. They now own 172.01 million shares or 5.11% less from 181.27 million shares in 2016Q1.
The Alabama-based Fjarde Ap has invested 0.09% in Incyte Corporation (NASDAQ:INCY). The Pennsylvania-based Vanguard Grp Incorporated Inc has invested 0.06% in Incyte Corporation (NASDAQ:INCY). Credit Agricole S A owns 27,290 shares or 0.01% of their US portfolio. Airain Limited accumulated 0.47% or 101,833 shares. Eqis Management Inc holds 28,649 shares or 0.16% of its portfolio. Sei Invs holds 0% or 6,134 shares in its portfolio. Assetmark, a California-based fund reported 370 shares. Teachers Advisors holds 422,590 shares or 0.06% of its portfolio. Diam Limited accumulated 0.17% or 141,407 shares. State Board Of Administration Of Florida Retirement Systems, a Florida-based fund reported 242,651 shares. Shell Asset Mngmt holds 0.02% of its portfolio in Incyte Corporation (NASDAQ:INCY) for 11,127 shares. Hightower Advisors Ltd Limited Liability Company holds 0.01% or 13,067 shares in its portfolio. Boston Advsr Ltd Liability Company has invested 0.01% of its portfolio in Incyte Corporation (NASDAQ:INCY). Rafferty Asset Ltd Com last reported 7,623 shares in the company. Credit Suisse Ag has 0.04% invested in the company for 497,386 shares.

Insider Transactions: Since July 29, 2016, the stock had 0 insider purchases, and 3 sales for $8.08 million net activity. 60,000 shares were sold by SWAIN PAULA J, worth $5.40M on Friday, July 29. Huber Reid M sold $879,600 worth of stock.

Incyte Corporation is a biopharmaceutical company. The company has a market cap of $19.04 billion. The Firm is focused on the discovery, development and commercialization of therapeutics to treat medical needs, primarily in oncology. It has a 289.37 P/E ratio. The Firm focuses on the research and development program to explore the inhibition of enzymes called janus associated kinases .

INCY Company Profile

Incyte Corporation, incorporated on April 8, 1991, is a biopharmaceutical company. The Firm is focused on the discovery, development and commercialization of therapeutics to treat medical needs, primarily in oncology. The Firm focuses on the research and development program to explore the inhibition of enzymes called janus associated kinases (JAK). The Company’s pipeline includes compounds in various stages, ranging from preclinical to late stage development, and a commercialized product, JAKAFI (ruxolitinib). The Firm has discovered multiple potent, selective and orally bioavailable JAK inhibitors that are selective for JAK1 or JAK1 and JAK2. JAKAFI is the compound in its JAK program, which is an oral JAK1 and JAK2 inhibitor. JAKAFI orphan drug is indicated for Myelofibrosis (MF), Polycythemia Vera (PV) and essential thrombocythemia.

More news for Incyte Corporation (NASDAQ:INCY) were recently published by: Businesswire.com, which released: “Updated Phase 1 Data Reinforce the Clinical Profile of Epacadostat in …” on September 28, 2016. Benzinga.com‘s article titled: “Incyte Could Be A Takeover Target, Argus Lifts Price Target To $98” and published on September 26, 2016 is yet another important article.